PILGRIM REST FOUNDATION INC (EIN 860885862) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1993

Legal Domicile

Principal Officer

RICHARD YARBOUGH

Phone

6022580831

Tax Period

2023-01-01 to 2023-12-31

PILGRIM REST FOUNDATION INC, founded in 1993, is a community nonprofit in the Religion sector that reported $6.1M in total revenue in fiscal year 2023. Revenue fell 21% from the prior year — a significant decline worth monitoring. Net assets of $14.7M represent 29 months of operating reserves.

Mission

TO BRING SOULS TO JESUS CHRIST BY ADDRESSING THE SPIRITUAL AND NATURAL NEEDS OF MEN, WOMEN, AND CHILDREN THROUGH THOUGHT-PROVOKING, SPIRIT FILLED, AND INSPIRING MINISTRIES THAT IMMEDIATELY IMPACT THE LIFE OF THE WHOLE PERSON. WITH THE GUIDANCE OF THE HOLY SPIRIT, WE WILL ACHIEVE THIS MISSION THROUGH A FAITHFUL, HUMBLE, SERVANT-ORIENTED, TRAINED LEADERSHIP STAFF SENSITIVE TO THE CONCERNS OF THE CONGREGATION AND THE COMMUNITY FOR THE EDIFYING OF THE BODY OF CHRIST.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $5,784,079

Program Service Revenue $56,835

Investment Income $12,813

Other Revenue $241,540

TOTAL REVENUE $6,095,267

Expense Breakdown

Grants Paid $100,308

Salaries & Benefits $2,156,044

Fundraising Expenses $0

Program Expenses $4,614,271

Other Expenses $3,977,937

TOTAL EXPENSES $6,234,289

Year-over-Year Comparison

	2023	2022	Change
Revenue	$6,095,267	$7,691,702	-0.2%
Expenses	$6,234,289	$7,079,053	-0.1%
Net Income	$-139,022	$612,649	-1.2%

Key Indicators

✗ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

280

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$609,805

Total Directors

$330,544

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
TRACY KENNEDY	SECRETARY	40.00	Officer Director	$0	$0	$0
RITA TUCKER	DIRECTOR	1.00	Director	$0	$0	$0
JERRY BARNES	VICE PRESIDE	1.00	Officer Director	$0	$0	$0
HERB AUSTIN	DIRECTOR	1.00	Director	$0	$0	$0
RICHARD YARBOUGH	PRESIDENT	40.00	Officer Director	$281,333	$49,211	$330,544
TERRY MACKEY	PASTOR	40.00	Officer	$233,174	$46,087	$279,261
STANTON LEWIS	MUSIC DIRECT	40.00	Highest	$126,500	$31,056	$157,556

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$6,095,267	$6,234,289	$17,057,580	$-139,022
2022	$7,691,702	$7,079,053	$18,043,064	$612,649
2022	$7,787,838	$7,044,832	$18,104,766	$743,006
2021	$8,964,691	$7,418,435	$15,838,376	$1,546,256
2020	$6,934,589	$5,650,008	$14,492,011	$1,284,581
2019	$5,072,718	$4,513,745	$12,231,318	$558,973
2018	$5,011,072	$4,560,267	$12,739,578	$450,805

PILGRIM REST FOUNDATION INC